5. Caymus Company adjusts and closes its accounts and prepares financial statements each month. In the December 31 Trial Balance column for debit balances, a balance of $9,000 is found in the Prepaid Rent account.

A payment of $18,000 for prepayment of six months’ rent was made on September 1.

a. What is the amount of the adjusting entry for this item?

b. What account would be debited and what account would be credited in the December 31 adjustments?